Strive Buys 1,375 More Bitcoin as Preferred Stock Sales Near $1 Billion Mark

Bitcoin treasury firm Strive acquired an additional 1,375 BTC for roughly $109 million last week, bringing its total holdings to 24,531 bitcoin. The purchase, made at an average price of $79,281 per coin, was funded largely through sales of the company’s SATA perpetual preferred stock, which reached nearly $999 million in outstanding notional value.

Race to Become Second-Largest Bitcoin Holder

Strive’s CEO said the company would need to acquire roughly 1,200 BTC per week over the remaining months of the year to overtake Twenty One Capital as the second-largest public bitcoin treasury, behind Strategy. He described that outcome as possible but not his base case, pointing to more than $700 million in outstanding warrants that could provide additional capital for future purchases.

Strategy Holds Steady While Strive Pushes Forward

Strive shares briefly rose above the exercise price tied to those warrants before pulling back in early trading. Meanwhile, top bitcoin holder Strategy made no purchases or sales last week, opting instead to repurchase $176 million of its preferred stock while maintaining its position at 845,050 BTC.